L&T Technology Services Wins $45 Million US Auto Tier 1 Electric Vehicle Contract | national company

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BENGALURU, India–(BUSINESS WIRE)–January 18, 2022–

L&T Technology Services Limited (BSE: 540115, NSE: LTTS), one of the world’s leading pure-play engineering services companies, announced that it had been awarded a contract worth $45 million from ‘a US Tier 1 automotive company, to become its strategic engineering partner and provide engineering services for its electric vehicle (EV) product portfolio.

Under the terms of the 5-year agreement, LTTS will work with the customer to deliver solutions leveraging its expertise in e-mobility technology. In particular, it will be delivered from the ER&D center of LTTS in Krakow, Poland.

LTTS plans to have over 300 engineers working from its center in Krakow, Poland over the next 3 years, marking its expansion into Eastern Europe.

Amit Chadha, CEO and Managing Director, L&T Technology Services noted, ” We have invested in electric, autonomous and connected vehicles (EACV) as part of our 6 big bets and our engineers have developed several new scalable e-mobility solutions that can accelerate the development journey of electric vehicles for global players in the automobile.

This landmark agreement confirms that our strategic investment is paying off and establishes LTTS’ dominant position in the EACV landscape. The Krakow R&D center will serve as a nearshore center for Western European and North American customers in all vertical markets. »

Over the past year, LTTS has been recognized for its mastery of the EACV space by global analysts. LTTS has been recognized as a leader in Everest Group’s Autonomous, Connected, Electric and Shared Mobility Automotive Engineering Study. The Zinnov Zones ER&D Services Report ranked LTTS as a leader in telematics and ADAS as well as an overall leader in the automotive sector. ISG Group also ranked LTTS as a leader in automotive smart manufacturing services.

About L&T Technology Services Ltd

L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited specializing in engineering and R&D (ER&D) services. We offer consulting, design, development and testing services throughout the product and process development lifecycle. Our customer base includes 69 Fortune 500 companies and 57 of the world’s largest ER&D companies, in industrial products, medical devices, transportation, telecommunications and high technology, and process industries. Based in India, we have over 20,100 employees across 17 global design centers, 28 global sales offices and 79 innovation labs as of December 31, 2021. For more information, please visit https://www.ltts.com/

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220118005868/en/

CONTACT: Sayanti Chakraborty

L&T Technology Services Limited

E:Sayanti.Chakraborty@LTTS.com

Phone. : +91-80-67675168

Aniruddha Basu

L&T Technology Services Limited

E:Aniruddha.Basu@LTTS.com

Phone. : +91-80-67675707

KEYWORD: INDIA NORTH AMERICA ASIA PACIFIC JAPAN CANADA EUROPE POLAND UNITED STATES

KEYWORD INDUSTRY: TECHNOLOGICAL ENGINEERING AUTOMOTIVE MANUFACTURING VEHICLE MANUFACTURING/ALTERNATIVE FUELS AUTOMOTIVE ALTERNATIVE ENERGIES ENERGY SOFTWARE NETWORKS HARDWARE INTERNET DATA MANAGEMENT SECURITY

SOURCE: L&T Technology Services Limited

Copyright BusinessWire 2022.

PUBLISHED: 01/18/2022 11:46 AM / DISK: 01/18/2022 11:46 AM

http://www.businesswire.com/news/home/20220118005868/en

Copyright BusinessWire 2022.

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